AbbVie (NYSE:ABBV) has settled its patent infringement litigation with Novartis (NYSE:NVS) unit Sandoz related to top seller HUMIRA ( adalimumab). Under the terms of the deal, it will grant Sandoz a non-exclusive license effective on September 30, 2023 in the U.S. that will not be accelerated by the entry of biosimilar competitors who have already been licensed. The license will take effect on October 16 in Europe.
Sandoz will pay AbbVie undisclosed royalties on sales of its biosimilar.
Earlier this year, AbbVie settled litigation with Amgen and Mylan.
ABBV is up 1% after hours.
Now read: Novartis Will Hold Through A Downturn »
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